Robinsons Land hotel project gets BOI perks

The Board of Investments (BOI) has granted incentives to the latest hotel project of Robinsons Land Corp. (RLC).

The Crowne Plaza Galeria Manila Hotel was granted incentives under the guidelines of the 2005 Investment Priorities Plan (IPP) which list tourist accommodation activities as a preferred investment area.

The listed project cost of Crowne Plaza is P1.506 billion with 265 rooms.

It is located along Ortigas Avenue corner ADB Avenue.

According to BOI managing head El-mer C. Hernandez, the government is encouraging investments in tourist accommodation activities as there is an increasing shortage of rooms for tourists.

The Philippines, Hernandez said, is enjoying a tourism boom due to several conventions being held in the country.

Hotel industry statistics show a high average occupancy rate of 85 percent, Hernandez said.

The Gokongwei-owned RLC is the real estate arm of JG Summit Holdings Inc.

Last year, RLC posted a net income of P1.2 billion resulting from its various real estate projects.

RLC has two other hotels, namely the Holiday Inn Galeria Manila which is located beside the Crowne Plaza, Cebu Midtown Hotel and Robinsons Apartelle along EDSA.